Samuel God’spower
Friday, November 29, 2024.
The Nigerian National Petroleum Company Limited (NNPCL) has dismissed reports of a review in petrol prices following the partial activation of the Port Harcourt Refining Company (PHRC). The company clarified that PHRC is yet to commence bulk sales as final preparations are ongoing.
In a statement released on Friday, NNPCL’s Chief Corporate Communications Officer, Olufemi Soneye, emphasised that products currently being sold, originate from the Dangote Refinery and are subject to fees regulated by the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA).
“Products from PHRC are exclusively for our retail outlets at this stage. Pricing is reviewed periodically to reflect operational realities. The public is advised to disregard any misleading information regarding pricing. Official announcements will be made if and when price reviews occur,” the statement read.
NNPCL also addressed public misconceptions about PHRC’s operational capacity. The company refuted claims by the Petroleum Products Retail Outlets Owners Association of Nigeria (PETROAN) that the refinery is operating at 70% capacity. It confirmed that the older PHRC plant, capable of refining 60,000 barrels per day, is functioning at 90% capacity, while the newer refinery, designed for 200,000 barrels per day, remains under rehabilitation.
“Both refineries are located within the same complex in Alesa Eleme, Rivers State. The old refinery is actively producing crude oil by-products, while the new plant will commence production upon the completion of ongoing rehabilitation,” Soneye stated.
NNPCL reassured the public that updates on the refinery’s progress and any price adjustments would be communicated transparently.
